Philip Mccartney Sells 2,559 Shares of NIKE (NYSE:NKE) Stock

NIKE, Inc. (NYSE:NKE) EVP Philip McCartney sold 2,559 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total value of $96,192.81. Following the completion of the sale, the executive vice president directly owned 78,121 shares in the company, valued at approximately $2,936,568.39. This represents a 3.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Philip Mccartney also recently made the following trade(s):

• On Wednesday, August 5th, Philip McCartney sold 524 shares of NIKE stock. The stock was sold at an average price of $41.60, for a total value of $21,798.40.
• On Friday, June 12th, Philip McCartney sold 17,398 shares of NIKE stock. The stock was sold at an average price of $46.18, for a total value of $803,439.64.

NIKE Stock Performance

NIKE stock opened at $36.81 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. The stock has a market cap of $54.62 billion, a PE ratio of 17.61, a P/E/G ratio of 1.79 and a beta of 1.10. NIKE, Inc. has a 12-month low of $36.55 and a 12-month high of $76.97. The business’s 50-day moving average price is $41.04 and its two-hundred day moving average price is $45.32.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 earnings per share. As a group, analysts expect that NIKE, Inc. will post 1.74 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a $0.41 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.5%. NIKE’s dividend payout ratio (DPR) is currently 78.47%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NKE shares. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Rothschild & Co Redburn reduced their price objective on NIKE from $45.00 to $37.00 and set a “sell” rating on the stock in a research report on Friday, July 17th. Jefferies Financial Group reaffirmed a “buy” rating on shares of NIKE in a report on Tuesday, August 25th. JPMorgan Chase & Co. reiterated a “sell” rating on shares of NIKE in a research report on Monday, August 31st. Finally, DZ Bank reissued a “buy” rating on shares of NIKE in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have given a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $50.12.

Institutional Investors Weigh In On NIKE

Institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its stake in shares of NIKE by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 640,889 shares of the footwear maker’s stock worth $26,308,000 after acquiring an additional 11,884 shares during the period. MCF Advisors LLC increased its position in NIKE by 48.4% during the 2nd quarter. MCF Advisors LLC now owns 25,663 shares of the footwear maker’s stock valued at $1,060,000 after purchasing an additional 8,370 shares during the period. National Pension Service increased its position in NIKE by 8.7% during the 2nd quarter. National Pension Service now owns 3,088,640 shares of the footwear maker’s stock valued at $126,789,000 after purchasing an additional 247,230 shares during the period. WINTON GROUP Ltd raised its holdings in NIKE by 63.0% during the 2nd quarter. WINTON GROUP Ltd now owns 43,923 shares of the footwear maker’s stock worth $1,803,000 after purchasing an additional 16,978 shares during the last quarter. Finally, Cidel Asset Management Inc. raised its holdings in NIKE by 33.4% during the 2nd quarter. Cidel Asset Management Inc. now owns 15,948 shares of the footwear maker’s stock worth $655,000 after purchasing an additional 3,995 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE News Summary

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Some analysts argue that NIKE’s core business remains viable despite weak sentiment. The depressed valuation and approximately 4.5% dividend yield could attract long-term investors if management can successfully restore growth. Nike Is Now Down 40% This Year
• Neutral Sentiment: NIKE shareholders approved an expanded employee stock purchase plan. The measure may help employee retention, although potential additional share issuance could dilute existing shareholders. Nike Shareholders Approve Expanded Employee Stock Purchase Plan
• Neutral Sentiment: NIKE’s latest quarterly results exceeded earnings and revenue expectations, but sales still declined year over year. Analysts currently expect about $1.74 in earnings per share for the full year, leaving the valuation dependent on a meaningful operational recovery.
• Negative Sentiment: Morgan Stanley warned that the selloff may continue, citing persistent operating weakness and disappointing performance. NIKE’s imminent removal from the S&P 100 may also reduce index-related demand and reinforce negative sentiment. Morgan Stanley Says the Pain May Not Be Over Yet
• Negative Sentiment: BMO Capital Markets issued a strongly bearish “Underperform”/“Strong Sell” view, adding to a series of negative Wall Street calls. Analysts continue to cite intense competition, shifting consumer preferences and broad product-market challenges. Nike Gains Another Bearish Call
• Negative Sentiment: Two senior executives sold shares worth approximately $234,000 combined under pre-arranged Rule 10b5-1 plans. The sales were relatively small and scheduled in advance, but they add to near-term caution among investors. NIKE Insider Selling

NIKE Company Profile

NIKE, Inc is a global athletic footwear, apparel and equipment company headquartered near Beaverton, Oregon. The company designs, develops and markets products under the NIKE, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.

NIKE’s offerings include athletic and casual footwear, sportswear, apparel, accessories and athletic equipment. The company distributes its products through company-owned retail stores, digital platforms, wholesale partners and independent distributors.